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2018 Qualified Plan LIMITS

Individual Limits

401(k) Employee Contributions

$18,500

401(k) Employee Catch Upfor employees age 50 or older

Additional $6,000

Profit Sharing Plan

100%* of pay up to $55,000

Money Purchase Plan

100%* of pay up to $55,000

Annual Additions LimitIncludes Employee, employer and forfeitures;Does Not Include Catch Up Contribution

100%* of pay up to $55,000

*Not to Exceed Employer Plan Limits

Employer Plan Limits

Profit Sharing Plan

25% of Eligible Payroll**

Money Purchase Plan

25% of Eligible Payroll**

** ½ SECA Adjustment Required for Sole Proprietors

Participant Loan Limits

If Plan Language Allows, Participant May Borrow

50% of Vested Account balance up to $50,000

Repayment Requirements

Amortized Principle and Interest, at least quarterly paymentsReasonable Interest RateNot to Exceed 5 years (except for purchase of principal residence)

Keys & Highly Compensated Employees

Key Employees: Used to Determine Top-heavy Status.A plan is Top Heavy if 60% or more of assets belong to Key Employees

During current plan year:

Officer and earning > $175,000 (indexed)

5% Owner; or

>1% owner and earning
> $150,000

Highly Compensated: Used for Discrimination Testing

>5% owner in the current or preceding year, or

Compensation >$120,000 in 2017 for 2018 testing

Indexed Limits & History

2018

2017

2016

2015

401(k) Employee Contributions

$18,500

$18,000

$18,000

$18,000

401(k) Catch Up Contributions

$6,000

$6,000

$6,000

$6,000

Defined Contribution Plan

$55,000

$54,000

$53,000

$53,000

Defined Benefit Limit

$220,000

$215,000

$210,000

$210,000

Compensation

$275,000

$270,000

$265,000

$265,000

FICA Taxable Wage Base

$128,700

$127,200

$118,500

$118,500

Due Dates & Penalties

Plan Establishment Due Date

By Fiscal Year End

Plan Contribution Due Date

Employer contributions: Tax filing date plus extensions, not to exceed 8 ½ months after the plan year end.Employee contributions: It is recommended that deposits be made within 7 days of withholding from employee pay.